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Jer 31, 2020. \begin{tabular}{lrc} Long-term loans payable & 60,600 & 69,500 \\ Common stock, \$10 par & 100,000 & 100,000 \\ Contributed capital, common stock & 30,000 & 30,000 \\ Retained earnings & 57,100 & 34,500 \\ \hline Total liabilities \& stockholders' equity & $313,100 & $293,600 \\ \hline \hline \end{tabular} SWEET INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 \begin{tabular}{|c|c|c|} \hline Sales revenue & & $340,975 \\ \hline Cost of goods sold & & 176,300 \\ \hline Gross profit & & 164,675 \\ \hline Operating expenses & & 119,600 \\ \hline Operating income & & 45,075 \\ \hline Interest expense & $11,300 & \\ \hline Gain on sale of equipment & 2,100 & 9,200 \\ \hline Income before tax & & 35,875 \\ \hline Income tax expense & & 7,175 \\ \hline Net income & & $28,700 \\ \hline \end{tabular} 1. Dividends in the amount of $6,100 were declared and paid during 2020 . 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of $20,100 and was 70% depreciated was sold during 2020 . Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).)

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